Russian Railways (RZD) (RTS: RZHD) posted a net profit of 18.8 billion rubles in the first six months of 2008, a decrease of 26.3% compared with the profit in the same period last year, company President Vladimir Yakunin told journalists on Wednesday according to Interfax.
The profit last year was inflated with the proceeds from sale of stakes in subsidiaries, Yakunin said in explaining the decline.
Net profit in 2007 amounted to 84.5 billion rubles. Revenue from core operations totaled 975.6 billion rubles.